USD/JPY keeps pullback from six-year high around 118.50 ahead of BOJ By anilpanchal7 USDJPY BOJ YieldCurve Ukraine RiskAppetite
Yields keep post-Fed weakness, US stock futures drop amid mixed concerns over Ukraine-Russia.
While softer yields weigh on the USD and triggered the quote’s pullback from the highest levels since 2016 the previous day, the yen pair’s latest weakness could be linked to the market’s anxiety ahead of today’s Bank of Japan monetary policy meeting. In addition to the yields, mixed concerns over the Russia-Ukraine crisis and the resulting challenges for Japan’s economy, as it imports most of its, also weigh on the USD/JPY prices recently. As per the latest updates, Ukraine brokers a top-tier gathering of Russian President Putin and his Ukrainian counterpart Volodymyr Zelenskyy to discuss the 15-point peace plan in detail. However, the Western warning that Moscow may contemplate the use of nuclear weapons dims the optimism.